Japan says exports in May grew most since late 2022

ANKARA 

Marking a sixth month of gains, Japan’s exports in May rose at the fastest pace since late 2022 with a boost by a weak yen and strong overseas demand.

Japan’s outbound shipments surged by 13.5% year-on-year, the largest hike since Nov. 2022, the Finance Ministry data showed on Wednesday.

Imports increased 9.5% from a year earlier in May, marking the fastest growth in 16 months.

The trade deficit grew to 1.22 trillion yen ($7.7 billion) in May, up from 466 billion yen ($2.95 billion) in April.

Exports increased by 23.9% to the US, 17.8% to China, 16.4% to Hong Kong, and 26.2% to Taiwan, but fell by 7.4% to Indonesia, 0.5% to India, 8.7% to Germany, 21.8% to Russia, and 10.1% to the EU.